Category: Exploration and Development

Geologix Explorations Inc. is pleased to announce an updated resource estimate for its Tepal Project in Michoacán State, Mexico which incorporates the results from drilling 41,247.5 metres at the North, South, and Tizate zones during 2011. The updated resource estimate was completed by Micon International Ltd. and reports a 324% tonnage increase in the resource Measured and Indicated categories compared to the previous resource of March 16, 2011. A pre-feasibility study utilizing the results from this March 2012 resource estimate is targeted to be completed by the end of the second quarter of 2012.

Almaden Minerals Ltd.(“Almaden” or “the Company”) is pleased to announce further results from the on-going 4 drill exploration program on the Company’s 100% owned Tuligtic project, Mexico with holes TU-11-95, TU-12-97 and TU-12-99 to 105. Holes TU-12-100 and 103 were drilled on the Northeast Extension Zone, along strike and north of the Main Ixtaca Zone. Both these holes intersected significant gold grades with TU-12-103 returning the highest grades encountered to date from the Northeast Extension Zone. Holes TU-11-95, TU-12-97, 101 to 104 were drilled into the Main Ixtaca Zone. Hole TU-12-99 was drilled to the south of the Main Ixtaca Zone and hole TU-12-105 was drilled on the Southeast Extension Zone. Final assays are pending for holes TU-12-96 (Main Ixtaca Zone) and 98 (Northeast Extension Zone).

One of Mexico’s three copper refineries owned by Mexican billionaire Carlos Slim’s Grupo Carso shut earlier this month, causing a rash of enquiries from domestic consumers looking for material, according to U.S. and Mexico-based market participants.

Silvermex Resources Inc. announces surface drill results from its producing La Guitarra property, located in the Temascaltepec Mining District, in the State of Mexico. To the end of January 2012, 59 holes had been completed totaling 7,633 m in 2011 and 2,290 m in January 2012 for a total of 9,923 m of the originally programmed 7,500 m surface diamond drilling program announced in September 2011. Assay results have been received for 40 of those completed holes, eight of which were announced in November 2011. Thirty-two additional holes are presented below in Table B.

Mexus Gold US is a company engaged in the evaluation, acquisition, exploration, development and production of mining properties and conducts salvage operations for the recovery of precious metals.

Management of Sierra Madre Developments Inc. is pleased to announce that the Company’s wholly owned Mexican subsidiary Minera Sierra Madre Exploraciones SA de CV, has signed a contract with Procesadora de Minerales de Durango SA de CV to complete a minimum of 2,500 meters of core drilling at the Company’s Penoles Project in the Durango Silver Belt, Mexico. The Project hosts a partially defined oxide gold prospect (El Capitan), two historic silver mines (Jesus Maria and San Rafael) and multiple early stage targets in a land package that covers more than half of the historic “Penoles Mining District”. Sierra Madre has an option to earn up to a 65% interest from Riverside Resources Inc. by incurring exploration expenditures and making cash and share payments to Riverside and the underlying property owners.

Goldgroup Mining Inc. has received its first set of written comments on its primary environmental permit for mining, the Environmental Impact Statement (“EIS”), at the 100%-owned Caballo Blanco gold project, from the Secretaría de Medio Ambiente y Recurso Naturales (“SEMARNAT”), also known as the Ministry of Environment and Natural Resources. The EIS was submitted by Goldgroup to SERMANAT on December 16, 2011. SEMARNAT, which acts as the federal environmental regulatory agency in Mexico, provided its first written response to Goldgroup in line with the typical response time of 60 working days.

Pacific Cascade Minerals Inc. is pleased to report further drill results from its Phase One exploration program on the El Centenario Project, Durango, Mexico. The first phase of exploration has targeted the La Esperanza silver, zinc, and lead mineralized structural zone.

CM11-390: 274 g/t (8.0 opt) silver with 5.5% lead and 17.2% zinc over 8.08 metres.
Including: 778 g/t (22.7 opt) silver with 14.9% lead and 18.2% zinc over 1.63 metres.

Rome Resources Ltd. is pleased to announce that it, through its wholly-owned subsidiary Roma Recursos de Mexico, S.A. de C.V. has entered into an agreement with Riverside Resources Mexico, S.A. de C.V., the subsidiary of Riverside Resources Inc., whereby Riverside Mexico can earn up to a 75% interest in six mineral concessions comprising 6,539 hectares located in the Inguaran Project, Michoacan, Mexico. In order to exercise its initial option to acquire a 51% interest in the Property, Riverside Mexico must complete at least $3,000,000 worth of exploration expenditures on the Property by March 2, 2015. If this first option is exercised, Riverside Mexico will then have a second option to increase its interest to 75% by incurring an extra $2,000,000 in exploration expenditures by the second anniversary of the date the Initial Option was exercised.